1 / 9Nearly every mutual fund piled into the demerged entity of Tata Motors and shares of LG Electronics India, one of the largest issues of the year in the month of October, according to data from Nuvama Alternative and Quantitative Research.
2 / 9Equity MFs increased their cash balance by ₹5,200 crore in October, with their holdings rising to ₹2.44 trillion. Increase in cash levels was led by Motilal oswal MF and PFAS MF. SBI MF, HDFC MF and ICICI Prudential MF also raised cash levels by ₹1,700 crore to ₹2,100 crore. Here’s a look at what India’s top fund houses did with the elevated cash levels.
3 / 9SBI MF | India’s largest fund house added shares of Tata Motors’ demerged entity (₹2,607 crore), Adani Power (₹2,302 crore), and Bajaj Finance (₹1,907 crore). It reduced its stake in ICICI Bank (₹1,654 crore), HDFC Bank (₹1,541 crore) and Adani Ports (₹806 crore). Canara Bank, Adani Energy Solutions and Dabur were new bets, along with BSE, while the fund house made a complete exit from its positions in NTPC and Tata Elxsi.
4 / 9HDFC MF | The fund house took prominent positions in SKF India (₹1,304 crore) and the demerged entity of Tata Motors (₹1,072 crore), along with HDFC Bank (₹710 crore). Positions were trimmed in Maruti Suzuki (₹429 crore), NTPC (₹351 crore), and TCS (₹257 crore). New positions were taken in ABB, Canara HSBC Life and Lenskart, while the firm made a complete exit from HCC, Coal India, IREDA, Advanced Enzyme and Go Fashion.
5 / 9ICICI Prudential MF | The fund house added to its positions in ICICI Bank (₹3,392 crore), the demerged entity of Tata Motors (₹2,066 crore), and HDFC Bank (₹1,345 crore). Positions were reduced in Bharti Airtel (₹2,155 crore), State Bank of India (₹1,626 crore), and Larsen & Toubro (₹1,598 crore). Aditya Birla Sun Life AMC, Can Fin Homes, Thyrocare, JSW Energy, and Astra Microwave were new entrants, while a complete exit was made from Chennai Petro, TD Power, and ICICI Lombard.
6 / 9Kotak MF | The fund added to its positions in ITC (₹1,669 crore), Shriram Finance (₹768 crore) and BSE (₹614 crore). Prominent reductions were ICICI Bank (₹842 crore), Axis Bank (₹640 crore), and Bharti Airtel (₹623 crore). Lenskart, LG Electronics India, and Rubicon Research were the new entrants in October, while MTAR Tech, Travel Food Services, and Vikram Solar were complete exits.
7 / 9Axis MF | The fund house placed bets on LG Electronics India (₹600 crore), Kotak Mahindra Bank (₹415 crore), and AU Small Finance Bank (₹301 crore). It reduced stake in Avenue Supermarts (₹390 crore), Bajaj Finance (₹340 crore), and Uno Minda (₹230 crore). AU Small Finance Bank, Ujjivan Small Finance Bank and CESC were new bets, while complete exit was made from Sumitomo Chemicals and VA Tech Wabag.
8 / 9Aditya Birla Sun Life MF | The fund added positions in Adani Power (₹332 crore), LG Electronics India (₹236 crore), and Mankind Pharma (₹223 crore), while it reduced positions in (₹304 crore), ITC (₹254 crore), and JSPL (₹249 crore). Tata Capital was also a new entry, while Utkarsh Small Finance Bank was a complete exit.
9 / 9DSP MF | Large positions were taken in Shriram Finance (₹390 crore), TCS (₹369 crore), and the demerged entity of Tata Motors (₹258 crore). Positions were reduced in Bajaj Finance (₹396 crore), Bajaj Finserv (₹311 crore) and Tata Motors Passenger Vehicles (₹308 crore). Canara HSBC Life was also a new entrant, while Godrej Industries was a complete exit.
